Real estate investor and fund manager, Cromwell Property Group, has acquired three logistics assets in the Nordics for its value-add partnership with global investment firm Carlyle (NASDAQ: CG), spread across three separate transactions.
The assets, which approximately total 18,000 sq m in aggregate, are based in Brunna, Sweden, and Ringsted and Fredericia, Denmark, and are strategically located to serve key metropolitan hubs in Denmark and Sweden, with strong transport links. These acquisitions add to Cromwell and Carlyle’s growing portfolio of complementary distribution logistics assets in the Nordics.
The Nordics represents one of Europe’s most established markets for logistics assets and is supported by strong operating fundamentals, including resilient demand, limited supply, and low vacancy rates.
The Nordic value-add logistics partnership between Cromwell and Carlyle Europe Realty (CER) was established in July 2022 to invest in logistics assets across the Nordic region, with an initial focus on Denmark and Sweden.
Pontus Flemme Gärdsell, Head of Nordics at Cromwell, commented: “The three new assets for our mandate with Carlyle complement the existing portfolio of assets we acquired last year.
“The logistics market in the Nordics is characterised by robust occupier demand, particularly among e-retailers. This, combined with low vacancy rates, means that the region offers plentiful opportunities for value-add investors like Cromwell with a track record of upgrading and transforming assets.”
Anssi Halonen, Managing Director on the Carlyle Europe Realty advisory team, said: “The acquisition of these assets increases our exposure to the distribution logistics market in the Nordics, a core part of our investment strategy in Europe. We continue to remain active in identifying and acquiring additional logistics opportunities in the Nordics, and across other key European markets.”